Iguana, Inc., manufactures bamboo picture frames that sell for $25 each. Each frame requires 4 linear feet of bamboo, which costs $2.00 per foot. Each frame takes approximately 30 minutes to build, and the labor rate averages $12.00 per hour. Iguana has the following inventory policies: 1. Ending finished goods inventory should be 40 percent of next month's sales.
2. Ending raw materials inventory should be 30 percent of next month's production.

Expected unit sales (frames) for the upcoming months follow:

March 275
April 250
May 300
June 400
July 375
August 425

Additional information:
Variable manufacturing overhead is incurred at a rate of $0.30 per unit produced.
Annual fixed manufacturing overhead is estimated to be $7,200 ($600 per month) for expected production of 4,000 units for the year.
Selling and administrative expenses are estimated at $650 per month plus $0.60 per unit sold.
Iguana Inc. had $10,800 cash on hand on April 1.
Of its sales, 80 percent are in cash.
Of the credit sales, 50 percent are collected during the month of the sale and 50 percent are collected during the month following the sale.
Of raw materials purchases, 80 percent are paid during the month purchased and 20 percent are paid in the following month.
Raw materials purchases for March 1 totaled $2,000.
All other operating costs are paid during the month incurred.
Monthly fixed manufacturing overhead includes $150 in depreciation.
During April, Iguana plans to pay $3,000 for a piece of equipment.

Required:
a. Compute the budgeted Cash Receipts for Iguana.
b. Compute the budgeted Cash Payments for Iguana.
c. Prepare the Cash Budget for Iguana.